July 14, 2009 / 2:33 PM / 10 years ago

CANADA STOCKS-TSX higher as oil and commodities gain

* TSX up 0.59 percent at 9,951.99

* Energy up 1.11 percent as oil gains

* Materials rise 0.40 percent (Adds details, quote)

By Nina Lex

TORONTO, July 14 (Reuters) - Toronto’s main stock index rose on Tuesday morning as a rally in oil and commodity prices helped push the resource-heavy index to its highest level in a week.

The TSX index’s energy sector led the gain, up 1.11 percent, as the price of oil rose to around $61 a barrel. Suncor Energy (SU.TO) shares were up 1.7 percent at C$37.76, Petro-Canada PCA.TO rose 1.71 percent to C$40.43, and Imperial Oil (IMO.TO) was up 0.87 percent at C$41.74.

Oil company Canadian Natural Resources (CNQ.TO) was the index’s biggest heavyweight advancer, up 1.22 percent at C$57.87.

The index’s mining-heavy materials sector rose 0.40 percent. Barrick Gold was up 1.03 percent at C$37.25 and Teck Resources TCKb.TO was up 1.42 percent at C$19.29.

At 10:13 a.m. (1413 GMT), the S&P/TSX composite index .GSPTSE was up 58.53 points, or 0.59 percent, at 9,951.99. Five of its 10 main groups were higher.

“It’s a little bit better atmosphere. There was a good move in the market and the commodity market yesterday. It’s just follow-through buying today,” said Bruce Latimer, trader at Dundee Securities.

Financial shares rose 0.55 percent as Goldman Sachs Group Inc (GS.N) reported a 33 percent rise in quarterly earnings on Tuesday on strong trading results. [ID:nN14175292]

“It’s certainly a positive. You see one of the biggest banking firms in the United States come in with some pretty good numbers, it’s going to have a spill-over affect on the other financial names,” Latimer said.

Royal Bank of Canada (RY.TO) was up 0.65 percent at C$46.86, and Sun Life Financial (SLF.TO) rose 1.82 percent to C$30.16.

$1=$1.14 Canadian Reporting by Nina Lex; editing by Peter Galloway

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